Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 33548.

Ultraviolet

member

Activity: 84

Merit: 10

Quote from: sve9mark on May 14, 2013, 04:15:41 PM

DOJ is under the DHS, right?. If this isn't in relation to the court case, then what?

If DHS served a Court Order obtained in US Court in Maryland that is not related to a civil action, then it's most likely an Order resulting from a criminal complaint by some US Government body against Gox.

I can't imagine any other scenarios for DHS to serve an Order to a payment processor requiring they cease business with Gox's US arm.

dexX7

legendary

Activity: 1106

Merit: 1026

Miz4r

legendary

Activity: 1246

Merit: 1000

Quote from: ronaldlee0917 on May 14, 2013, 04:13:58 PM

Will there be more waves of sell off just like last time MtGox was sued. Huh

Who knows... sell and find out. Wink

sve9mark

newbie

Activity: 39

Merit: 0

Quote from: Ultraviolet on May 14, 2013, 04:08:56 PM

It's really not the Coinlab lawsuit. For that to be the case, Mt. Gox would have had to have:

1. Been served;
2. Replied to the complaint (If you don't reply to the complaint before the deadline you'll lose automatically when Plaintiff files a motion for default judgment, nothing happens until you reply); and
3. Coinlab's attorneys would have to have made an ex parte motion for an injunction (if it was a motion on notice it would be scheduled weeks in advance), and won.

Furthermore, I highly doubt DHS would be serving an injunction in a civil action.

You could see huge news about Gox's US operations being targeted by a DOJ complaint this week.

DOJ is under the DHS, right?. If this isn't in relation to the court case, then what?

ronaldlee0917

full member

Activity: 238

Merit: 100

Will there be more waves of sell off just like last time MtGox was sued. Huh

Ultraviolet

member

Activity: 84

Merit: 10

Quote from: Its About Sharing on May 14, 2013, 04:09:31 PM

Can you at least speak in facts? We are witnessing bad news just get eaten up by buys. Amazing, and that is all you can say?

How about we just try to be realists and not Bulls or Bears? This is interesting lab work right now. Wink

Facts are if the move on Gox comes from the US Government and severely interferes/destroys Gox's ability to process US transactions then you're going to see this "amazing" phenomenon amount to one massive bull trap within 48 hours.

Miz4r

legendary

Activity: 1246

Merit: 1000

Quote from: EuroTrash on May 14, 2013, 04:06:25 PM

On a personal drama note, I tried to ride the wave of dumps by short selling BTC and instead ended up having to buy back at same price while losing a coin in fees. Bummer.

LOL I thought I was the only one bad at these things. Tongue

Well actually I've made a 0.011 BTC net profit from this sell off.. but still I feel like an amateur at this. Sad

Its About Sharing

legendary

Activity: 1442

Merit: 1000

Antifragile

Quote from: Ultraviolet on May 14, 2013, 04:08:56 PM

It's really not the Coinlab lawsuit. For that to be the case, Mt. Gox would have had to have:

1. Been served;
2. Replied to the complaint (If you don't reply to the complaint before the deadline you'll lose automatically when Plaintiff files a motion for default judgment, nothing happens until you reply); and
3. Coinlab's attorneys would have to have made an ex parte motion for an injunction (if it was a motion on notice it would be scheduled weeks in advance), and won.

Furthermore, I highly doubt DHS would be serving an injunction in a civil action.

You could see huge news about Gox's US operations being targeted by a DOJ complaint this week.

But something doesn't make sense. FinCen isn't going after BTC, nor is any other government agency. Why now the DHS? The take down sports web sites! Just what Hitler envisioned they would do. LOL

Its About Sharing

legendary

Activity: 1442

Merit: 1000

Antifragile

Quote from: Frozenlock on May 14, 2013, 04:06:18 PM

Quote from: DougTanner on May 14, 2013, 04:03:23 PM

Looks to be stabilizing.

Just before the next dive.

Can you at least speak in facts? We are witnessing bad news just get eaten up by buys. Amazing, and that is all you can say?

How about we just try to be realists and not Bulls or Bears? This is interesting lab work right now. Wink

DougTanner

sr. member

Activity: 280

Merit: 250

Back to where we were 24 hours ago.

*yawn*

phantastisch

legendary

Activity: 2271

Merit: 1363

Quote from: Frozenlock on May 14, 2013, 04:06:46 PM

Quote from: deathcode on May 14, 2013, 04:01:56 PM

Quote from: Frozenlock on May 14, 2013, 03:27:25 PM

The train is leaving guys. Next stop: Zerooooooo!

LMAO... this is a proudhon wannabe! :

Amidoingitrite? Grin

Worst Proudhon ever. No Lama, no bold predictions of steel with bitcoin bets , not enough emphasis on single digits.... I want my money back.

Ultraviolet

member

Activity: 84

Merit: 10

It's really not the Coinlab lawsuit. For that to be the case, Mt. Gox would have had to have:

1. Been served;
2. Replied to the complaint (If you don't reply to the complaint before the deadline you'll lose automatically when Plaintiff files a motion for default judgment, nothing happens until you reply); and
3. Coinlab's attorneys would have to have made an ex parte motion for an injunction (if it was a motion on notice it would be scheduled weeks in advance), and won.

Furthermore, I highly doubt DHS would be serving an injunction in a civil action.

You could see huge news about Gox's US operations being targeted by a DOJ complaint this week.

Brushan

member

Activity: 224

Merit: 10

Quote from: Its About Sharing on May 14, 2013, 04:05:41 PM

Wow, the buying is just relentless. The interest is much higher than I would have thought. There is true demand at these levels.

What if people who have fiat on Mt.Gox are buying coins to sell them at another exchange?

Frozenlock

sr. member

Activity: 434

Merit: 250

Quote from: deathcode on May 14, 2013, 04:01:56 PM

Quote from: Frozenlock on May 14, 2013, 03:27:25 PM

The train is leaving guys. Next stop: Zerooooooo!

LMAO... this is a proudhon wannabe! :

Amidoingitrite? Grin

sve9mark

newbie

Activity: 39

Merit: 0

Quote from: drdanishkhan on May 14, 2013, 03:55:15 PM

A more distributed exchange system would definitely help in the long run and contribute signifigantly to the stability of bitcoin..
however now i think a fair share of mtgoxs volume will get distributed to other exchanges even though they are shit..

The end of the MT Gox monopoly would be a great win-fall for bitcoin IMO

EuroTrash

hero member

Activity: 728

Merit: 500

Interesting battle ahead.

The Dwolla/DHS news is still not on any major news site. It is likely to be a big hit on tomorrow's news channels.
The Google Ventures news is also fresh although it applies to OpenCoin not much bitcoin.

Meanwhile on Gox: bottom catchers saw chances for cheap coins and are keeping the price above 115 right now.
We'll see soon if and how much the market cares about the Dwolla news...

On a personal drama note, I tried to ride the wave of dumps by short selling BTC and instead ended up having to buy back at same price while losing a coin in fees. Bummer.

Frozenlock

sr. member

Activity: 434

Merit: 250

Quote from: DougTanner on May 14, 2013, 04:03:23 PM

Looks to be stabilizing.

Just before the next dive.

Its About Sharing

legendary

Activity: 1442

Merit: 1000

Antifragile

Wow, the buying is just relentless. The interest is much higher than I would have thought. There is true demand at these levels.

notme

legendary

Activity: 1904

Merit: 1002

Quote from: sve9mark on May 14, 2013, 03:53:15 PM

Quote from: fitty on May 14, 2013, 03:39:13 PM

Quote from: Rockford on May 14, 2013, 03:33:16 PM

Quote from: mccorvic on May 14, 2013, 03:29:31 PM

Quote from: fitty on May 14, 2013, 03:27:51 PM

Quote from: Rockford on May 14, 2013, 03:26:01 PM

some bears are going to get burned ...severley

The odd thing is, if you think MtGox is about to get owned by the US Govt, you need to BUY bitcoins and move them off the exchange.

This was my thought too. This also leads to the theory that it's really just a couple guys trying to manipulate and buy back more coinage then they started with.

well lets wait how this ones playing out... I am holding this one for now

MtGox is a cancer on the Bitcoin ecosystem, it would be great long term news if people left there in droves. Like I said, buy bitcoins, move them off the site if you're actually scared. The last thing I'd go is have them wire me money, DHS could have told every bank in the US to freeze any incoming wires from them.

This all still seems a little iffy. I'm surprised Dwolla would mention lawsuits no one can find record of, and MtGox would have no idea (they still list Dwolla as a withdrawal method). Seems like poor taste by Dwolla (who's CEO has blogged his support of Bitcoin) to say it's now "illegal to deal with MtGox". A lawsuit doesn't make it illegal, the DHS orders if they exist also sound questionable. If it's not a hoax it's a poorly worded notification from Dwolla.

Regardless if MtGox worries you, move *coins* off the exchange, not fiat.

This is a dramatic development to say the least. My first thought is that it is due to the Coinbase lawsuit against GOX. Is this a move by the DOJ due to the court case, or is this a move by Homeland Security in relation to a money laundering investigation? Wow. I hope its due to the lawsuit. I am very glad I trade with CampBX. This could actually be great news if it is due to the lawsuit, as MT Gox having a monopoly over the bitcoin market is detrimental to bitcoins core philosophy of decentralization.

If you haven't yet, US residents should consider opening a CampBX account and transfer out of MT Gox. If you wish you can use my referral link to get a 10% lifetime discount of trading fees (disclosure: I get a 10% discount as well): https://CampBX.com/register.php?r=X8IT0iRWMOA

Coinbase != Coinlab

DougTanner

sr. member

Activity: 280

Merit: 250

Looks to be stabilizing.

Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 33548. (Read 26495091 times)